Financial Benefit Under PM-KISAN
Source : PIB
GS II : Government policies and interventions for development in various sectors and issues arising out of their design and implementation

Why in News ?

Financial Benefit Under PM-KISAN 8^th instalment of financial benefit of Rs 19,000 crore to 9.5 crore beneficiary farmers under Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme.

Key Facts

• Disbursement of financial benefit will be the first instalment of PM-Kisan for the ongoing financial year.
• Approximately 11 crore farmer families have got Rs 1.35 lakh crore under the scheme till date.
• For the first time, the farmers of West Bengal would be getting the benefit of this scheme.

How the Scheme Works

• The money is transferred to bank accounts of beneficiaries through the Direct Benefit Transfer (DBT) mode.
• According to scheme guidelines, state governments are required to send correct and verified data of farmers, which State Nodal Officers (SNOs) authenticate and upload to the scheme portal in batches.
• Based on the verified data, SNOs sign the Request For Transfer (RFT), with the total number of beneficiaries.
• The Public Finance Management System (PFMS) then issues a Fund Transfer Order (FTO) based on which the Department of Agriculture, Cooperation & Farmers Welfare in the central Ministry of Agriculture & Farmers Welfare issues the transaction order for the mentioned amount.

PM-Kisan Scheme

• The Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) is a 100 per cent centrally funded scheme under which Rs 6,000 is transferred in three equal installments to eligible farmer families in a year.
• It was implemented from December 1, 2018, when the first installment for December-March, 2018-19 was released.

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